An early November vote is tentatively scheduled for the Orland Park Village Board to decide on one of two proposals for developing the remaining sites in the village’s Downtown Main Street Triangle, according to the village manager.

This past spring, the board, from six potential companies, selected Edwards Realty, of Orland Park, and Chicago-based Structured Development to come up with detailed plans for the Triangle, northwest of LaGrange Road and 143rd St.

The firms had a July 19 deadline to submit their proposals to the village, and a tentative schedule in the spring called for the board to take a vote in early August.

The Village Board is scheduled to discuss the proposals in a closed session following its regular Oct. 15 meeting, with a public vote tentatively set for the board’s Nov. 5 meeting, according to Joe La Margo.

Although there were no snags in the review process of the two proposals, La Margo said that “because of the scale of the project, we did not want to rush through the due diligence process.”

Edwards and Structured were required to submit information such as site plans, marketing plans, information on how they will finance the development, projected revenue streams from sources such as property and sales taxes, and terms of any financial incentives they might seek from the village.

The Triangle includes the Ninety7Fifty on the Park apartments, University of Chicago Medicine Center for Advanced Care, which has a CVS Pharmacy on the first floor, and a multilevel parking garage between the apartments and U. of C. The village's intent with the Triangle has been to create a traditional, walkable downtown within the Triangle.

The village has five sites totaling about nine acres available for development, as well as a 12,000-square-foot space on the first floor of the parking garage that could be used for commercial purposes.

Edwards has a portfolio of commercial properties, many of them concentrated in the Chicago south and southwest suburbs.

The company acquired Orland Park Crossing, a high-end lifestyle center, in 2013. The center, northeast of LaGrange Road and 143rd Street and just east of the Triangle, had been developed in 2005 and tenants include Chico's, Francesca's, Mariano's, Omaha Steaks, P.F. Chang's and Talbots.

Also in 2013, Edwards acquired Cornerstone Centre, at the northeast corner of Harlem Avenue and 183rd Street in Tinley Park. Tenants there include Egg & I, 350 Brewing and Tin Fish.

Structured’s work has been focused in the city, with several developments in the Clybourn Avenue corridor.

Its most notable endeavor may be the huge mixed-use New City project in Chicago’s Lincoln Park community. Completed in 2016, the development at Clybourn and Halsted Street includes more than 390,000 square feet of retail and commercial space, as well as a 19-story, 199-unit luxury apartment tower, according to the company.

Nearly a year ago, Orland Park officials approved a development agreement that called for an upscale, eight-screen theater to be built in the Triangle, but, earlier this year, the theater’s operator, Cinepolis USA, dropped those plans.

The theater would have had a restaurant and bar, and village officials had hoped Cinepolis would be a magnet to draw other development to the Triangle, such as high-end restaurants. The village’s approval early this year of plans for a 10-screen theater at Orland Square Mall, to be operated by theater chain AMC, played a role in Cinepolis’ decision, according to the village.

The term “Triangle” comes about because of the triangular shape of the 27-acre site, bordered on the north by the Metra SouthWest Service line and Southwest Highway.

Mike Nolan/Daily Southtown

Orland Park's Village Board is tentatively scheduled to vote in early November on a proposal to develop the remaining sites in its Downtown Main Street Triangle.

Orland Park's Village Board is tentatively scheduled to vote in early November on a proposal to develop the remaining sites in its Downtown Main Street Triangle. (Mike Nolan/Daily Southtown)